Tax-Smart Retirement Savings Strategies - Part B (w/John Vento, CPA, CFP) [Ep.28]

Check out Part 3B of my 3-part podcast series with dental CPA and CFP John Vento! In this episode, titled “Tax-Smart Retirement Savings Strategies,” John will cover:o   Reasons why you should want to set up a retirement plan for your practice and how it can help with employee recruitment and retention.o   The SECURE Act 2.0, including when it was passed into law, when it becomes effective, and how it will impact retirement plan contributions for you and your employees.o   The recent expansion of the ability to make Roth contributions.o   Significant tax credits that are now available for making contributions to your retirement plan and the retirement plan of your employees, including:§  The Startup Tax Credit which allows you to legally double dip by not only deducting the expenses of training your team about their retirement savings options, but also receiving a tax credit for those same expenses!§   Employer Contribution Tax Credit which allows you to receive a tax credit to subsidize you for putting money into your employee’s retirement plan!  Basically, the government is paying you to contribute to your employee's retirement!§  The Auto-Enrollment Tax Credit which forces your employees to opt out of contributions to their retirement instead of opting in, which is how it has traditionally been set up.LINKS:• Part 1 (Important Tax Information for Dentists):  https://www.youtube.com/watch?v=1-EXO-IlQgs&ab_channel=DeLukeOrthodonticCoaching• Part 2a (Taxes & Practice Ownership - Part A): https://www.youtube.com/watch?v=tyQTdCy2DxA&t=6s&ab_channel=DeLukeOrthodonticCoaching• Part 2b (Taxes & Practice Ownership - Part B): https://www.youtube.com/watch?v=Tt0yneFair0&t=990s&ab_channel=DeLukeOrthodonticCoaching• Part 3a (Tax-Smart Retirement Savings Strategies - Part A): https://youtu.be/QFB2DJksISg• Point X Calculator (https://www.ventotaxandwealth.com/resource-center/retirement/saving-for-retirement)• To purchase John’s Book:  https://www.ventotaxandwealth.com/buy-the-book• You can find more information on John and his firm, Vento Tax and Wealth Management, at www.VentoTaxAndWealth.com.